Home NewsRegulations & Licenses North Carolina grants eight licenses for online sports betting before launch

North Carolina grants eight licenses for online sports betting before launch

32 views 3 minutes read

Less than two weeks before online sports betting is available in North Carolina, the North Carolina State Lottery Commission awarded eight interactive sport wagering licenses to operators.

North Carolina will begin offering sports betting on the 11th of March. The state governor Roy Cooper signed House Bill 347 last year.

FanDuel, DraftKings and BetMGM are among the licensees approved. In addition, Bet365 and BetMGM will launch their services in New Jersey.

In order to be approved to provide sports betting, operators had to form a partnership with either a North Carolina sports team or league. This led to an influx of transactions as operators sought to gain entry to the state.

DraftKings, for example, partnered up with Nascar’s stock car racing, and BetMGM with Charlotte Motor Speedway. ESPN Bet entered North Carolina after signing a deal with the PGA Tour to be the official betting operator of the Wells Fargo Championship held in North Carolina.

Underdog is probably the brand that has been launched with the least amount of recognition. North Carolina was its first license for sports betting after it expanded from being a fantasy sports paid operator. This was achieved through a partnership between McConnell golf and Underdog.

Caesars Entertainment has signed a deal with the Eastern Band of Cherokee Indians to expand its relationship. Caesars only has a licence as a provider, since the EBCI is still waiting to be approved by the government.

Initially, only seven operators appeared on the list of approved operators. Later on Thursday however, the Tribal Gaming Casino Enterprise, a subsidiary of the EBCI, was added. The EBCI has already installed land-based betting in its Cherokee and Murphy casinos.

The big sports betting day in North Carolina is 11 march.

Registration and deposits can begin on Friday, 1 March at 12 pm ET.

GeoComply SBTech Sportradar are among the companies that have been granted a licence to provide sports betting services before 11 March.

In the first week of this month, The Commission approved an optional self-exclusion program for residents in North Carolina. The NC Problem Gambling Programme offers harm prevention and education, as well as services, to those who are affected by gambling. House Bill 347 stated that $2m per year (PS1.6m/EUR1.9m), or an extra 2m, would be allotted to the program to increase its scope.

On the Commission website, players can fill out a self-exclusion form. The self-exclusion period can be set to one, three, or five years. After this period, the player will not be able to bet online, at a sportsbook in retail or on horses. All winnings will be forfeited.

North Carolina is the 30th US State to offer sports betting online. The tax rate is 18% on gross gaming revenues. This tax was originally 14% but was amended by the Senate.

You may also like

About Us

On iGamingWorld, we provide in-depth analysis, the latest news and opinions from famous people of the gaming industry.

Featured Posts